An uptrend channel developed on the 4h chart that can be used for successful entries for either longs or shorts. Main horizontal resistances are in the ~1.2890 area and the ~1.3040 area respectively.
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The PA is moving closer to the upper limit of the channel giving a good opportunity to short.
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The PA has gone over the upper limit. It is a strong buy signal which can push the price towards the dashed resistance up-trendline.